Indian equities trade flat with marginal losses, healthcare stocks slip

Mumbai, Aug 4: Indian equity markets traded on a flat-to-negative note during the mid-afternoon trade session on Friday as mixed global cues, coupled with heavy selling pressure in healthcare and telecom stocks, kept investors’ sentiments subdued.

However, a surge in consumer durables, metal, and oil and gas stocks limited the downslide.

Around 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded above the psychologically important 10,000-mark at 10,008.40 points — down 5.25 points or 0.05 per cent — from its previous session’s close.

The Nifty50 slipped to a low of 9,988.35 points intra-day.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,191.12 points, traded at 32,163.54 points — down 74.34 points, or 0.23 per cent — from its previous close at 32,237.88 points.

The Sensex has so far touched a high of 32,252.45 points and a low of 32,107.99 points during intra-day trade.

The BSE market breadth was bearish with 1,394 declines and 979 advances.

“Benchmark indices were trading flat in morning trade, amid lack of any major cues. Investors remained on edge as the Street remained disappointed with Reserve Bank of India’s 25 basis points rate-cut,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“The Indian rupee opened little changed against the US dollar. The shares of Hero MotoCorp, Coal India and Hindustan Unilever rose, whereas the shares of Lupin, Sunpharma and Cipla fell,” he added.

On Thursday, weak services sector data and heavy selling pressure in banking and metal stocks dragged the benchmark indices lower.

The Nifty50 fell by 67.85 points or 0.67 per cent to close at 10,013.65 points, while the Sensex closed at 32,237.88 points — down 238.86 points, or 0.74 per cent.


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